Browsed byTag: home sales us

The US housing market is on a roll and is showing no signs of slowing down — that’s the key takeaway from Goldman Sachs’ most recent Housing Monitor research report, released Thursday. US Housing Market: Mid-2016 Update According to the Goldman Sachs research, US house prices have continued to grow close to a 5 per cent rate throughout 2016. This view runs against the Case-Shiller and FHFA house price indices, which appear to show that the housing market slowed during…

USA Today reported Tuesday that apartment lease renewals hit an all-time high of nearly 54 per cent in 2016. This is up from 52.9 per cent last year and a more-conventional 45 per cent in the mid 2000s. US Rental Rates Millennials are faced with student debt and expensive home buying options, which drives them into metro areas where developers have started putting up luxury apartment buildings, according to USA Today Tuesday. Elsewhere, Real estate research firm CoStar released…

The Case-Shiller (CS) National Home Price Index, reported by S&P Dow Jones Indices Wednesday, continued its upward trend in June. The index rose at a 2.5 per cent seasonally adjusted annual pace, faster than the 1.6 per cent in May. Elsewhere, NAHB analysis of Census Construction Spending data Thursday shows that total private residential construction spending for July registered a seasonally adjusted rate of US$445.5 billion, slightly up from the June downwardly revised estimate. US House Prices: June 2016 The…

According to the Zillow Negative 2Q Equity Report, released Thursday, the overall US negative equity rate as of the end of 2Q 2016 – the share of homeowners that were underwater, owing more to their lenders than their home was worth – was 12.1 per cent. That’s down from 12.7 per cent in 1Q and 14.4 per cent at the same time a year ago . Elsewhere, FNC released their June 2016 index data Monday, reporting that their Residential Price…

The Federal Reserve Bank of New York’s Center for Microeconomic Data Tuesday issued its Quarterly Report on Household Debt and Credit, which reported that household debt increased by US$35 billion (a 0.3 per cent increase) to US$12.29 trillion during 2Q 2016. This moderate growth was driven by increases in auto loan and credit card debt, which increased by US$32 billion and US$17 billion respectively. Mortgage debt declined by US$7 billion in 2Q, after a US$120 billion increase in 1Q, and…

According to the National Association of Home Builders / Wells Fargo Housing Opportunity Index, solid home price appreciation more than offset a modest reduction in mortgage interest rates to push housing affordability lower in 2Q 2016. The national median home price increased from US$223,000 in 1Q 2016 to US$240,000 in 2Q. Meanwhile, average mortgage rates edged lower from 4.05 per cent to 3.88 per cent in the same period. According to historical data, housing affordability usually takes a notch down…

Homeownership rates in the US have collapsed to 63.1 per cent, down from 2004 highs of about 69 per cent, according to the US Census Bureau Wednesday. As homeownership rates come full circle from the early 1990s levels, the Median Asking Price for Vacant Units has steadily risen. Meanwhile, according to the National Association of Home Builders / Wells Fargo Housing Opportunity Index Thursday, solid home price appreciation more than offset a modest reduction in mortgage interest rates to push…

Freddie Mac reported this week the amount of Real Estate Owned s (REO) inventory declined to 13,284 at the end of 2Q 2106 compared to 19,484 at the end of Q2 2015. For Freddie, this is down 82 per cent from the 74,897 peak number of REOs in 3Q 2010. For Freddie, this is the lowest since 2007. REO Inventory, US Freddie Mac reported the amount of Real Estate Owned inventory declined to 13,284 at the end of 2Q 2106…

The National Association of Home Builders analysis of Census Construction Spending data released Monday shows that total private residential construction spending for June registered a seasonally adjusted rate of US$445.8 billion, virtually unchanged from the May downwardly revised estimate. Private nonresidential construction spending fell for a third consecutive month in June, down by 1.3 per cent. Within private residential construction, spending on single-family and multi– family both declined in June. Single-family spending dropped to US$239.6 billion in June, down 0.3…

The US Census Bureau and Department of Housing and Urban Development in a joint release Tuesday reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 592 thousand in June and revised May sales up to 572 thousand. This pace represents steady progress from housing bust lows below 300 thousand but is still well short of the pre-boom level of sales, averaging an annual pace of 964 thousand from 2000 to 2003. The inventory of…